Capital Bank Opens first National Bank of Iraq Branch in Erbil

As part of its expansion plans across Iraqi provinces, and in an effort to offer premium banking services and facilities to its corporate clients, Capital Bank announced the opening of its first National Bank of Iraq (NBIRQ) branch in Erbil.

Through its acquisition of a controlling 72% share in the National Bank of Iraq (NBIRQ), Capital Bank is the only Jordanian bank in Iraq offering superior services that facilitate and fund trade and banking services between clients in Jordan and Iraq.

The new Erbil branch was inaugurated by His Excellency Dr. Barham Salih, Prime Minister of the Kurdistan Regional Government, in the presence of His Excellency Bassem Khalil Al-Salem, Chairman of Capital Bank, and Nozad Hadi, Governor of Erbil, in addition to National Bank of Iraq Board Members and a number of prominent figures in the region.

The new Erbil branch increases the total number of NBIRQ branches to seven, three of which are located in Baghdad, one in Mosul, one in Karbala and one in Basra.

“We are delighted that the National Bank of Iraq has brought its services to Erbil in addition to the other provinces it is already serving and we are also pleased that the National Bank of Iraq branch is the only Capital Bank branch in the Region. Erbil is currently witnessing exceptional economic activity as a result of its political stability making it a prime destination for investors that are targeting the Iraqi market”, said His Excellency Dr. Barham Salih, Prime Minister of the Kurdistan Regional Government.

“Our investment in the National Bank of Iraq is a long-term strategic decision that stems from Capital Bank’s firm belief in the wide-ranging economic opportunities that are available in Iraq”, commented His Excellency Bassem Khalil Al-Salem, Chairman of Capital Bank, the fourth largest bank in Jordan in terms of capital.

“As the only Jordanian Bank in Iraq that provides both commercial and investment banking services – through its investment arm Capital Investments – our relationship with the National Bank of Iraq allows Capital Bank to better service businessmen and merchants in Jordan and support the increase of Jordanian exports to Iraq”, stated Al-Salem.

Al-Salem went on to affirm that the National Bank of Iraq aims to strengthen ties and enhance investment opportunities between Jordan and Iraq, which is considered one of the fastest growing economies in the world.

(Source: Capital Bank)

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